Direct approach pays off for World Bank’s cat bond

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Direct approach pays off for World Bank’s cat bond

World Bank’s borrowing in the debt markets has always been in furtherance of ethical and laudable goals — issuing its first ever catastrophe bond in July just made that connection more direct and obvious. By amending its EMTN programme to allow the issuance of cat bonds and other innovative structures, World Bank has opened the door to whole new areas of the capital markets, writes Nathan Collins.

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